Here's my situation: In 2022 I over contributed to my ROTH IRA. So in 2023 I had to make a return of excess contribution and received a form 1099-R which I entered in the information for. But I am also getting this message which I don't understand:
"Indicate how much of your remaining excess contribution of $288 you want to credit toward your 2023 Roth IRA contributions."
I have two questions:
1. How exactly are they getting a value of $288?
2. I don't want them to put any more money in my ROTH IRA for 2023 because I've already reached the limit for my ROTH IRA contributions for that year. But then when I enter 0 it gives me this message:
"IRA Contributions Worksheet: Line 26 - Taxpayer's excess Roth IRA contribution credit should be equal to $288.00, the Roth IRA contribution credit from Form 5329, Part IV."
Is this a problem? Can I just ignore this message and put 0 anyways?
